Question

31. Mr. Ashok does not keep his books properly. Following information is available from his books:
Jan. 01, 2013
Dec 31, 2013
Sundry creditors
45,000
93,000
Loan from wife
66,000
57,000
Sundry debtors
22,500
Land and Building
89,600
90.000
Cash in hand
7,500
8.700
Bank overdraft
25,000
1,300
Furniture
1.300
Stock
34,000
25,000
During the year, Mr. Ashok sold his private car for Rs. 50,000 and invested this amount into the business.
He withdrew from the business Rs1,500 per month upto July 31, 2013 and thereafter Rs. 4,500 per month
As drawings. You are required to prepare the statement of profit or loss and statement of affairs as on
December 31, 2013​

Answer 1

Explanation:

l don't know l don't know